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687 Islay
For Sale $3,900,000
$3,900,000
- Unknown Bedrooms
- Unknown Bathrooms
- Unknown Sq Ft
- 20,735 Sq Ft
Description
Built in 1895, this iconic Historic Victorian residence sits on one of downtown San Luis Obispo’s most prominent properties. Restored over the past 50 years, the residence is set on nearly a half-acre of usable land and currently features nine residential units, including three one-bedroom residences and six studio units with lofts. The property also includes nine outbuildings used as garages, storage, a bicycle garage, social room, and laundry facility.
Historic character is preserved through ornate Victorian detailing, original redwood built with Douglas fir accents, soaring 12-foot ceilings, and expansive windows, while offering modern conveniences throughout. A large basement, park-like grounds, patio areas, and barbecue space enhance the property’s appeal.
In addition to its existing income-producing layout, the property offers potential for future expansion and increased density, subject to local zoning and planning approvals. Development flexibility may allow for additional units or alternative configurations, presenting a rare opportunity for investors and owner-users alike.
Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $3,900,000 |
| Property Type | Condo/Co-Op |
| Usable Sqft | Unknown |
| Number of Stories | 2 stories |
| Parking Spots | 6 spots |
| Year Built | 1895 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| HOA Fees: | $0 |
| Association Name: | Unknown |
| Association Amenities: | Unknown |
| APN # | 003631006 |
| MLS # | SC26013167 |
| Property ID | 322595294 |
| Lot Sqft | 20,735 |
| Zoning | Unknown |
| Total Units | 9 |
| Days on Market | 31 |
| Original List Price | $3,900,000 |
| Applicances | Dishwasher,Gas Range,Refrigerator,Water Heater% |
| Date Updated | February 19, 2026 |
| Date Created | February 09, 2026 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | $190,200 | $0 |
| Net Income (Yr) | $ 142,336 |
Listing Provided By
Linda Wilson an agent of Central Coast Sotheby's International Realty. Lic #01045160
© 2026 CRMLS. All rights reserved. Some listings on this website are from CRMLS as of February 19, 2026 The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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- America/Phoenix
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Robert Crawford
REAL ESTATE AGENT